1. A contingency theory perspective on the risk management control system within Birmingham City Council
In recent years the topic of risk management has moved up the agenda of both government and industry, and private sector initiatives to improve risk and internal control systems have been mirrored by similar promptings for change in the public sector. Both regulators and practitioners now view risk management as an integral part of the process of corporate governance, and an aid to the achievement of strategic objectives.
The paper uses case study material on the risk management control system at Birmingham City Council to extend existing theory by developing a contingency theory for the public sector. The case demonstrates that whilst the structure of the control system ﬁts a generic model, the operational details indicate that controls are contingent upon three core variables—central government policies, information and communication technology and organisational size. All three contingent variables are suitable for testing the theory across the broader public sector arena.
Keywords: Risk management, Case study, Contingency theory
2. A new look at investment risk – the organic risk management stance?
The author suggests that methods for rating investment risk are flawed. He suggests a risk analysis, management and projects (RAMP) approach. Number-crunching will produce better results than listening to analysis.
Keywords: Investment, Risk management, Banking, Governance
3. A review of techniques for risk management in projects
Purpose – This paper aims to provide a review of techniques that support risk management in product development projects using the concurrent engineering (CE) philosophy.
Design/methodology/approach – The Australia/New Zealand risk management standard AS/NZS 4360:1999 proposes a generic framework for risk management. This standard was adapted for product development projects in the CE environment. In...